US Bribery Charges Plunge Adani’s Empire Back Into Crisis (2)

Gautam Adani, one of the world’s richest people, was in good spirits Wednesday evening. Earlier in the day, the Indian billionaire’s green energy business had raised $600 million through a bond sale. Before heading to bed in the city of Ahmedabad, he relaxed by playing a card game with his wife, according to a person close to him.

But around 3 a.m., a colleague delivered some shocking news: The US had charged Adani and several associates with fraud in a sprawling criminal investigation.

Within minutes, senior executives from the Adani Group assembled on conference calls and in the conglomerate’s ...